Today, in our current economic environment, we face many challenges; however, with these challenges come opportunities. Economic growth and job creation are critical to our economy, and must be a priority of government as well as to all of us as citizens. The fundamentals of our economy are sound, but the economy is being affected negatively by structural problems within the government in areas such as the housing sector, banking, and government intervention, as well as excessive rules and regulations. We need an open and free economic environment which will foster improved confidence, eliminate uncertainty in our future, and allow businesses and individuals to make decisions that will grow our economy. Every deficit dollar the government spends is a dollar unavailable to the private sector.
Putting money in the hands of individuals and not the government allows our entrepreneurial spirit to flourish, thus creating jobs and increasing confidence in our future. The American entrepreneurial spirit made our country the envy of the world and the land of opportunity. Spending is the root problem when looking at debt and deficits. Like any family or business, the federal government must be responsible and not spend money they don't have. We must live within our means both personally and as a country. Spending creates the need for taxes and borrowing. As households and businesses know, when you cut your spending, you will reduce your debt and deficits.
President Reagan was correct when he said "No" to certain programs his administration deemed useless. Every successful business knows when to cut back. New rules, new regulations, and programs have recently been introduced that do nothing but bloat our government, add additional debt, hinder our workforce, and make us uncompetitive in a global world.Economic growth is the best jobs program for job creating. A prosperous and thriving economy can equal a prosperous and thriving job market. With a census population of 325 million Americans and over 90 million of those over the age of 16 not currently in the work force, that can mean economic stagnation. Now is the time to remember and utilize the lessons learned from President Reagan's approach to our economy; his philosophy is perfect for today's economic environment. Reagan employed a simple and logical approach to the economy that worked and helped create over 16 million jobs in the 1980's. Let's take a page out of President's Reagan's book and get our spending under control.